Artificial Intelligence (AI) startup Imbue has recently secured an additional $12 million in follow-on funding, bringing its total raised to over $210 million in cash. This round of funding was led by Amazon.com’s Alexa Fund and former Google CEO Eric Schmidt. Imbue’s impressive funding success adds to its already notable achievement in September, when it announced its Series B round of $200 million at a valuation of over $1 billion.
Imbue is part of a select group of companies that possess significant financial resources to develop foundation models, AI systems trained on extensive datasets that can perform a diverse range of tasks, from writing to coding. The recent surge in generative AI has been driven by foundation model developers such as Microsoft-backed OpenAI, which launched the highly successful product ChatGPT in late 2020.
However, Imbue differentiates itself by focusing on creating a model that enables so-called autonomous agents. These AI systems promise to perform more sophisticated personal and work tasks, such as meeting scheduling or complex data analysis, without requiring constant supervision. Imbue CEO Kanjun Qiu emphasizes that the key to developing AI systems capable of large-scale, real-world tasks lies in improving their reasoning capabilities. In an interview, Qiu stated, “We want to enable agents that people can actually use and that work reliably, and ultimately the vision is to reinvent the personal computer so that it’s truly personal.”
The additional funding obtained by Imbue will be allocated towards purchasing compute resources and expanding the company’s workforce. Qiu specifically mentioned the company’s focus on hiring a data executive and more product-focused engineers.
Imbue’s ability to secure significant follow-on funding from prominent investors like the Alexa Fund and Eric Schmidt reflects the increased interest and investment in AI technology. With its ambitious goals and substantial financial backing, Imbue stands at the forefront of developing AI systems that could potentially revolutionize the way we interact with technology.
In conclusion, Imbue’s recent $12 million follow-on funding brings their total raised to over $210 million, further solidifying their position as a leader in AI technology. With a focus on creating AI systems that can perform sophisticated tasks without constant supervision, Imbue aims to reshape the personal computer experience. By investing in compute resources and expanding their team, Imbue is well-positioned to achieve its vision and make significant strides in the AI industry.
Quotes:
- “We want to enable agents that people can actually use and that work reliably, and ultimately the vision is to reinvent the personal computer so that it’s actually truly personal.” - Imbue CEO Kanjun Qiu.
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